When the problem in the mortgage industry deepened, it left in its wake millions of homeowners facing their worst nightmare – foreclosure. Not only are these homeowners are dealing with the monetary loss but also emotional and mental distress over the loss of their home. Most of them have no idea what to do and could only bottle up their troubles because of embarrassment and frustration.

When the $300 billion housing bill was signed into law last week, many experts and analysts are torn between whether it will be able to fix the mess left by the foreclosure crisis.

Real estate experts have always advised troubled homeowners to immediately contact their lenders if they are having problems with mortgage payments. This is actually an effective way of avoiding foreclosure. Unfortunately, a couple did not expect that they will experience a problem with their mortgage servicer and caused them to lose their Boston home to foreclosure. For this reason, the couple decided to file a lawsuit.

Across the nation, millions of homeowners are struggling with their mortgage debts and a significant percentage of them are losing the battle. In Maryland, the continued rise in the number of foreclosure homes has even prompted a Courts of Appeal chief judge to urge non profit organizations, local officials and individuals to help these troubled borrowers.

Finally, there is hope for troubled homeowners. The very controversial foreclosure housing bill, signed by President George Bush last Wednesday, is considered to be the a good band-aid since it is the first major step that the government has taken to address the foreclosure crisis.